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Kalamandir IPO

Sai Silks (Kalamandir) IPO

  • Status: Closed
  • RHP:
  • ₹ 14,070 / 67 shares

    Minimum Investment

IPO Details

  • Open Date

    20 Sep 2023

  • Close Date

    22 Sep 2023

  • IPO Price Range

    ₹ 210 to ₹ 222

  • IPO Size

    ₹ 1201 Cr

  • Listing Exchange

    BSE, NSE

  • Listing Date

    04 Oct 2023

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Timeline Subscription Status Objective Financials SWOT FAQ Contacts

IPO Timeline

Sai Silks (Kalamandir) IPO Subscription Status

Last Updated: 26 September 2023 3:42 PM by 5Paisa

Sai Silks (Kalamandir) Limited IPO is all set to open from 20th September to 22nd September 2023. The company is involved in the business of ethnic apparel and value-fashion products. The IPO includes a fresh issue of 27,027,027 equity shares worth ₹600.00 cr and an Offer For Sale (OFS) of 27,072,000 equity shares worth ₹601.00 cr. The total IPO size is ₹1,201.00 cr. The share allotment date is 27th September, and the IPO will be listed on 4th October on the stock exchanges. The price band is ₹210 to ₹222 per share and the lot size is 67 shares.    

Motilal Oswal Investment Advisors Limited, HDFC Bank Limited, and Nuvama Wealth Management Limited are the book-running lead managers for this IPO, while Bigshare Services Private Limited is the registrar. 

Objectives of Kalamandir IPO:

    • To fund capital expenditure for setting up 25 new stores and 2 warehouses.
    • To fund working capital requirements.
    • To pre-pay or repay, full/part borrowings obtained by the company. 
    • Fund general corporate purposes.

Kalamandir IPO Video:

 

Established in 2005, Sai Silks (Kalamandir) Limited is involved in the business of ethnic apparel and value-fashion products. Drawing inspiration from the rich and diverse culture, traditions, and heritage of India, the company provides a wide range of products. This includes ultra-premium and premium sarees suitable for various occasions, including weddings, parties, and daily wear. 

Sai Silks also offer an exquisite range of lehengas, men's ethnic attire, children's ethnic wear, and value fashion products, which includes fusion and western wear for women, men, and children.

Sai Silks operates four different formats of stores:

i) Kalamandir: It provides contemporary ethnic fashion options catering to the middle-income segment. The product offerings are sarees, including Tusser, Silk, Kota, Kora, Khadi, Georgette, Cotton, and Matka.

ii) VaraMahalakshmi Silks: This includes premium ethnic silk sarees and handloom products, with a focus on wedding and occasional wear. The exquisite selections range from Banarasi, Patola, Kota, Kanchipuram, Paithani, Organza, and Kuppadam, with an emphasis on handwoven Kancheepuram silk sarees.

iii) Mandir: Mandir stores offer ultra-premium designer sarees tailored to high-net-worth individuals. This includes an exclusive range of designer sarees, such as Banarasi, Patola, Ikat, Kanchipuram, Paithani, Organza, and Kuppadam.
    
iv) KLM Fashion Mall: This format store offers affordable and value fashion products that cater to a wide audience, including fusion wear, daily wear sarees, and western attire for women, men, and children.

In addition to these physical stores, Sai Silks also sells products through e-commerce channels, including our website sskl.co.in and online e-commerce platforms.
 
Peer Comparison
    • Vedant Fashions Limited
    • Go Fashion (India) Limited
    • TCNS Clothing Co. Limited
    • Aditya Birla Fashion and Retail Limited
    • Shoppers Stop Limited
    • Trent Limited

For More Information:
Webstory on Sai Silks (Kalamandir) IPO
Kalamandir IPO GMP

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY23 FY22 FY21
Revenue 1351.46 1129.32 677.25
EBITDA 212.53 133.04 62.36
PAT  97.59  57.69  5.13
Particulars (in Rs. Crores) FY23 FY22 FY21
Total Assets 1220.45 842.49 665.42
Share Capital 24.06 24.06 24.06
Total Borrowings 823.11 541.83 422.43
Particulars (in Rs. Crores) FY23 FY22 FY21
Net cash generated from / (used in) operating activities 41.23  45.59  -15.20
Net cash from / (used in) investing activities -60.14  -42.00 -17.98
Net cash flow from / (used in) financing activities 14.90 0.698 19.43
Net increase (decrease) in cash and cash equivalents -4.009 4.29 -13.76

Strengths

1. The company is among the leading ethnic and value-fashion retail companies in south India having a portfolio of established formats with focused sales and marketing strategy.
2. Leading ethnic wear retail brand in India with a scalable model.
3. It is well-positioned to leverage growth in the ethnic and value-fashion apparel industry in India.
4. Strong presence in offline and online marketplace with an omnichannel network.
5. Track record of growth, profitability and unit economics with an efficient operating model.
6. Planning to expand our footprint within India through owned stores and franchise networks by leveraging our brand appeal.

Risks

1. The business is highly concentrated on the sale of women’s sarees and is vulnerable to variations in demand and changes in consumer preference.
 2. Revenues are generated substantially from stores located in Southern India, which creates concentration risk. 
3. The company operates in a fragmented market with unorganized and single-store players.
4. Any pandemic-like situation can impact the company’s profitability. 
 

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FAQs

The minimum lot size of Sai Silks (Kalamandir) is 67 shares and the investment required is ₹14,070.

The Price band of Sai Silks (Kalamandir) IPO is ₹210 to ₹222.

Sai Silks (Kalamandir) IPO is open from 20th September to 22nd September 2023.

 The Sai Silks (Kalamandir) IPO includes a fresh issue of ₹1,201.00 cr.

The share allotment date of Sai Silks (Kalamandir) IPO is 27th of September.

The Sai Silks (Kalamandir) IPO will be listed on the 4th of October 2023.

Motilal Oswal Investment Advisors Limited, HDFC Bank Limited, and Nuvama Wealth Management Limited are the book-running lead managers for Sai Silks (Kalamandir) IPO.

Sai Silks (Kalamandir) plans to utilize the raised capital from IPO to:

1. To fund capital expenditure for setting up 25 new stores and 2 warehouses.
2. To fund working capital requirements.
3. To pre-pay or repay, full/part borrowings obtained by the company. 
4. Fund general corporate purposes.

To apply for the IPO, follow the steps given below
 • Login to your 5paisa account and select the issue in the current IPO section    
 • Enter the number of lots and the price at which you wish to apply for the Sai Silks Limited IPO.    
 • Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.    
 • You will receive a mandate notification to block funds in your UPI app.